May Hill Capital LLC increased its position in Keysight Technologies Inc. (NYSE:KEYS – Free Report) by 782.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,605 shares of the scientific and technical instruments company’s stock after buying an additional 48,420 shares during the period. Keysight Technologies comprises 2.8% of May Hill Capital LLC’s portfolio, making the stock its 5th largest holding. May Hill Capital LLC’s holdings in Keysight Technologies were worth $9,552,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KEYS. Norges Bank purchased a new position in shares of Keysight Technologies during the 2nd quarter worth $316,690,000. Allspring Global Investments Holdings LLC lifted its position in Keysight Technologies by 2,290.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,421,437 shares of the scientific and technical instruments company’s stock worth $246,051,000 after buying an additional 1,361,969 shares during the period. Man Group plc boosted its stake in Keysight Technologies by 164.3% in the 2nd quarter. Man Group plc now owns 1,010,399 shares of the scientific and technical instruments company’s stock worth $165,564,000 after buying an additional 628,082 shares during the last quarter. AQR Capital Management LLC grew its holdings in Keysight Technologies by 2,004.8% in the 2nd quarter. AQR Capital Management LLC now owns 572,836 shares of the scientific and technical instruments company’s stock valued at $93,865,000 after buying an additional 545,620 shares during the period. Finally, Boston Partners increased its stake in shares of Keysight Technologies by 10.5% during the 2nd quarter. Boston Partners now owns 4,709,540 shares of the scientific and technical instruments company’s stock valued at $771,359,000 after acquiring an additional 446,123 shares during the last quarter. 84.58% of the stock is owned by hedge funds and other institutional investors.
Keysight Technologies Stock Performance
NYSE:KEYS opened at $234.33 on Wednesday. The firm’s fifty day simple moving average is $214.67 and its 200 day simple moving average is $188.54. The company has a current ratio of 2.35, a quick ratio of 1.78 and a debt-to-equity ratio of 0.43. Keysight Technologies Inc. has a twelve month low of $121.43 and a twelve month high of $242.62. The firm has a market capitalization of $40.19 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 2.45 and a beta of 1.20.
Keysight Technologies announced that its Board of Directors has authorized a stock repurchase plan on Monday, November 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on KEYS. Jefferies Financial Group raised their target price on shares of Keysight Technologies from $195.00 to $220.00 and gave the stock a “hold” rating in a research report on Wednesday, December 10th. Wells Fargo & Company lifted their price target on shares of Keysight Technologies from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Morgan Stanley boosted their price objective on shares of Keysight Technologies from $208.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Wall Street Zen lowered Keysight Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $243.00 price target on shares of Keysight Technologies in a research report on Thursday, January 15th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.64.
Check Out Our Latest Research Report on KEYS
Insider Buying and Selling at Keysight Technologies
In other Keysight Technologies news, CFO Neil Dougherty sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $203.72, for a total value of $203,720.00. Following the completion of the transaction, the chief financial officer owned 127,833 shares in the company, valued at $26,042,138.76. This represents a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Satish Dhanasekaran sold 4,230 shares of Keysight Technologies stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $211.43, for a total transaction of $894,348.90. Following the sale, the chief executive officer owned 128,131 shares in the company, valued at $27,090,737.33. This represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 78,784 shares of company stock worth $15,841,737. Insiders own 0.40% of the company’s stock.
Keysight Technologies Company Profile
Keysight Technologies is a global provider of electronic design, test, measurement and optimization solutions for communications, electronics and related industries. The company was formed as a corporate spin-off from Agilent Technologies in 2014; its origins trace back to the electronic measurement business that was part of Hewlett‑Packard before Agilent. Keysight develops hardware and software used throughout the product development lifecycle, from design and simulation to prototype validation and manufacturing test.
Keysight’s product portfolio includes electronic test and measurement instruments such as oscilloscopes, network and spectrum analyzers, signal generators, vector network analyzers and modular PXI-based systems, together with software platforms for simulation, automated test and data analysis.
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